After-Hours Buzz: Nokia, Microsoft, Micron & More
Check out which companies are making headlines after the bell Wednesday:
Nokia - The Wall Street Journal reported that Microsoft held talks with the Finnish cellphone maker this month about buying the phone company's devices business, citing sources familiar with the matter. Nokia shares soared in extended-hours trading, while MIcrosoft slipped.
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Separately, Microsoft confirmed that its Xbox One videogame console will not require Internet connection to play games and players can play any disc-based game after a one-time system set-up without ever connecting online again. In addition, the company said there will be no limitations to using and sharing games. Videogame software retailer Gamestop spiked higher in extended-hours trading following the announcement.
Micron - The chipmaker posted earnings of 4 cents a share on sales of $2.32 billion, beating estimates for 2 cents a share on sales of $2.25 billion. Shares ticked higher in extended-hours trading.
Finisar - The tech company posted earnings of 20 cents a share, excluding one-time items, exceeding expectations for 17 cents a share, while revenue was in line with expectations at $243 million. In addition, the company handed in current-quarter guidance that was above estimates, sending shares sharply higher in extended-hours trading.
Red Hat - The software company reported earnings of 32 cents a share, excluding one-time items, on sales of $363 million, edging past expectations by a penny a share on revenue of $360 million. Shares gained in extended-hours trading.
Jabil Circuit - The electronics manufacturing services provider posted earnings of 56 cents a share, excluding one-time items, on revenue of $4.47 billion, topping expectations for 54 cents a share on revenue of $4.40 billion. But the company handed in current-quarter earnings that were below forecasts, sending shares slightly lower in extended-hours trading.
Annaly Capital - The mortgage real estate investment trust declared a second-quarter dividend of 40 cents a share. The prior quarter's dividend was 45 cents a share. Shares edged higher in extended-hours trading.
Hanesbrands - The clothing company named Gerald Evans as its COO and eliminated its co-COO positions. Shares were unchanged in extended-hours trading.
SandRidge Energy - The oil and natural gas exploration company said chief executive Tom Ward will leave company and named CFO James Bennett as its new CEO. Shares jumped in extended-hours trading.
Five Below - The discount stores chain announced a 8.6 million share secondary offering. Shares tumbled in extended-hours trading.